Millennium Post

Chakrabarty quits as RBI Dy Guv three months prematurely

Chakrabarty quits as RBI Dy Guv three months prematurely
Chakrabarty, 62, who was appointed RBI Deputy Governor in 2009, was always blunt with his views and made it public. Known for his strong views on the efficacy of cash reserve ratio (CRR) as a tool for monetary management, he was involved in verbal duel in 2012 with the then SBI Chairman Pratip Chaudhuri, who wanted its abolition.

Chakrabarty, the senior most among four deputy governors, could not be contacted on the reasons for his surprise decision. He was appointed as RBI Deputy Governor for a three-year term on June 15, 2009 and was subsequently given a two-year extension.

Chakrabarty’s current assignments at RBI include guiding and overseeing areas pertaining to supervision of banks, currency management, financial stability, customer service, rural credit and human resource management. He is the RBI’s nominee on the Financial Stability Board, a global body established to develop and promote implementation of effective regulatory, supervisory and other financial sector policies.

He is also the Chairman of the Bharatiya Reserve Bank Note Mudran and heads the Advisory Committee of College of Agricultural Banking (CAB). He was the CMD of Punjab National Bank and Indian Bank before joining the RBI.
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